SBA Disaster Loan
This loan offers up to $2 million in assistance at an interest rate of 3.75% for those businesses without credit available elsewhere.
https://disasterloan.sba.gov/ela/
Contact your Current Lender
Your current lender will be in the best position to assist with short term needs. Improving cash flow and access to capital are some of the most important measures any business can be making as they prepare for the road ahead.
While the financial position and capital needs of every business is different, the following are a few strategies worth exploring that are some of the more likely forms of relief available.
- Suspend Principled Payments on Term Loan
- Re-Advance on Commercial Mortgages
- Mind your Accounts Receivable
Article by David Lynam, Illinois Lawyer Now a publication of Illinois State Bar Association
